2006 Nebraska Revised Statutes - § 44-19,120 — Penalties and liabilities.

Section 44-19,120
Penalties and liabilities.

(1) If the director determines that a title insurance agent or any other person has violated the Title Insurance Agent Act or any rule or regulation adopted and promulgated pursuant to the act, after notice and opportunity to be heard, the director may order:

(a) A penalty not exceeding one thousand dollars for each violation; and

(b) Revocation or suspension of the title insurance agent's license.

(2) If an order of rehabilitation or liquidation of a title insurer has been entered pursuant to the Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act, and the receiver appointed under that order determines that a title insurance agent or any other person has not complied with the Title Insurance Agent Act or any related rule, regulation, or order, and the title insurer suffered any resulting loss or damage, the receiver may maintain a civil action for recovery of damages or other appropriate sanctions for the benefit of the title insurer and its policyholders and creditors.

(3) Nothing in this section shall affect the right of the director to impose any other penalties provided for in the insurance laws of this state.

(4) Nothing in the act is intended to or shall in any manner limit or restrict the rights of policyholders, claimants, and creditors.

Source:

Laws 1997, LB 53, § 43

Cross References:

Nebraska Insurers Supervision, Rehabilitation, and Liquidation Act,see section 44-4862.

~Reissue Revised Statutes of Nebraska